Multiple Choice
Figure 4.1 illustrates the demand and supply schedules for pocket calculators in Mexico, a "small" nation that is unable to affect the world price.
Figure 4.1. Import Tariff Levied by a "Small" Country
-Consider Figure 4.1.In the absence of trade, Mexico's producer surplus and consumer surplus respectively equal
A) $120 and $240.
B) $180 and $180.
C) $180 and $320.
D) $240 and $240.
Correct Answer:

Verified
Correct Answer:
Verified
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